Organizational expenses are classified as intangible assets on the balance sheet. True False The two main sources of stockholders equity are investments contributed by stockholders and net income retained in the business. True False Retained earnings represents past net incomes less past dividends, therefore any balance in this account would be listed on the income statement. True False The balance in Retained Earnings should be interpreted as representing surplus cash left over for dividends. True False A deficit in Retained Earnings is reported in the stockholders equity section of the balance sheet True False The par value of common stock must always be equal to its market value on the date the stock is issued. True False